Mauritius

When thinking of Mauritius, one usually thinks of golden, sundrenched beaches, azure water, a lifestyle of leisure, and friendly people. Not to mention a very stable electricity grid, with no power blackouts, except the ones caused by the occasional cyclone . . .

Mauritius also has a very attractive fiscal regime for individuals which includes Income Tax of only 15%, no Dividend Tax, no Withholding Tax on Interests and Dividends, no Capital Gains

The secret is out why Capital Legacy is quicker than the rest of the industry with the administration of Estates.

But we are going to keep you in suspense for a just a couple of paragraphs before we let the cat out of the bag. We need to do a quick scene-setter before telling you how we do it. After all, Aristoteles said every story needs to have a beginning, a middle part,

What is a Deceased Estate?

A deceased Estate comes into existence when a person dies and leaves property or a Will. The Estate must then be administered and distributed in terms of the deceased’s Last Will and Testament. If there is no valid Will, it will be administered and distributed in terms of the Intestate Succession Act (Act 81 of 1987).

What happens

In these trying times of companies downscaling and more and more people losing their jobs, it’s encouraging to know that there are some companies bucking this trend. 

Whereas South Africa is more often than not literally in the dark, one particular company, Capital Legacy, has not only just kept the lights on but has been generating hundreds of employment positions across its growing footprint around the

The impact of only 25% of parents having a valid Will in place.

THE HEART-RENDING STATISTICS:

South Africans have been horrified by the news that Covid-19 has led to an estimated 134 500 orphans in our country.

This means that at least one in every 200 children in every age group will have experienced Covid-19-associated orphanhood.

By this time this figure is even higher, since the research has only been done up to the end

By Kenrick Newport, National Manager, Succession Planning at Capital Legacy

Most people know about Trusts, but few people know the details. And as everybody knows, the devil is in the details. As Capital Legacy is the country’s leading provider of Wills we get to set up and manage hundreds of Trusts for our clients and have learnt a few things over the years we would like to share.

A Trust can be defined as

A Last Will and Testament is a document in which a person (called a testator or testatrix) expresses his or her wishes as to what should happen to their assets. This includes what their dependants should inherit when they die.

But, like all legal documents, there are some factors which could invalidate a Last Will and Testament.

There are some musts and may nots you should know about.

If the musts are not

 What Happens When You Die Without a Will?

 Dying without a Will could have detrimental consequences for your loved ones. If your familial structure is anything other than traditional, then the chances are high that your assets will not be distributed according to how you may envision they should be. According to South African law, if you die without leaving a valid Will, the provisions of the Intestate Succession Act, Act No. 81

We are all born to die.
That is an irrefutable and very sobering fact of life.

Compounding the loss of a loved one, family and friends often find to their shock that the process of unwinding the Estate of a loved one can be nearly as traumatic as the event itself.
A little planning can go a long way to make this process much easier on those you leave behind. A lot of

We are now offering assistance with your Trust requirements.

Capital Legacy offers Trust services, whereby we act as an independent Trustee on your Inter Vivos Trust for a monthly fee. This fee covers a number of factors, namely:

1) Independent Corporate Trusteeship

Capital Legacy will be independent corporate Trustee. A representative, as nominated by Capital Legacy, will act as Trustee of the Trust.

2) Expertise and skills of the fiduciary technical advisory centre.